“be really careful about doing a social networking startup in 2012”

For entrepreneurs, the key message is to be really careful about doing a social networking startup in 2012. The social networking wave is about to crest. There are very few ideas and opportunities in this space that aren’t crowded. There will be many opportunities for “quick flips” based on momentum, but the oversupply of startups makes it a very risky time to start a company in this area.